Litecoin Halving Successful, SEC Considers Ethereum ETF Applications

Litecoin Halving Successfully Executed

The halving of Litecoin’s block production rewards, which takes place every four years, took place successfully last night. In Litecoin, the reward amount per block production was reduced to 6.25 LTC. Litecoin price retreated to $ 86 at $ 92 levels after the development.

US Department of Justice Allegedly to Sue Binance

It was claimed that the US Department of Justice was considering suing Binance, but was worried that many investors would be victimized by the sudden exits. It was claimed that the Ministry would charge Binance with fraud. After this news, the cryptocurrency market made a significant retreat.

SEC Considering Ethereum Futures ETF Applications

The US Securities and Exchange Commission (SEC) reported that it is evaluating Ethereum Futures ETFs. The SEC’s stance on this issue is thought to have changed somewhat after the filings received last week. TradFi, Grayscale and VanEck are known to have applied for an Ether Futures ETF. While the approval of applications is not guaranteed, the SEC’s shift to a more lenient approach can be seen as a positive.

BlockFi’s Disclosure Statement Accepted by the Court

The bankrupt company BlockFi continues to reorganize. In BlockFi, it was recently announced that the disclosure statement submitted to the court was conditionally approved by the court. A BlockFi official stated that the company’s goal in this process will be to maximize recoveries for its creditors, and that they are working on the best way to return assets to their customers as quickly as possible, and that customers can speed up the process by voting to accept it. If the bankruptcy plan is accepted, the company will primarily focus on recovering assets from companies such as Alameda, FTX, 3AC, Emergent, Marex and Core Scientific.

Robinhood’s Crypto Revenues Decline

Robinhood released its balance sheet and earnings statements yesterday. The company, which saw a decline in the revenues of its crypto asset division compared to the last quarter, announced revenues of 31 million dollars. The company’s transaction-based revenues from crypto assets fell by 18%. During this period, trading clients decreased by 6% and nominal volumes per trader by 15%.

Bitcoin is priced at $ 29,110 with a 0.26% loss in value as of today morning hours. After yesterday’s rise in Bitcoin, we see that there is a renewed selling pressure and the price has retreated to 29,000 support. In Bitcoin, if the 29,000 level is broken downwards, we can say that the 28,800 region will work as support, and in the upward movement, first 29,500 and then 30,000 levels will be target levels. In Bitcoin, we see that the market is still affected by the negative news flows we have seen in the market, especially the allegation that the US Department of Justice will sue Binance, causing negative pricing even if the volume seen yesterday was above average. Friday’s employment data could be an important marker for the direction of crypto asset pricing.

ETH, which lost 0.21% as of morning hours, is priced at $ 1835. In Ethereum, we see that the 50 and 100-day moving averages and then the downward breakout of the 1845 zone occurred again. After retreating to the 1820 region in the evening hours, we see that it could not rise above 1845, although it found support from here and rose again. The target for Ethereum will be the 1845 breakout and then the 1890 region.

LTC, which gained 0.16% as of morning hours, is priced at $ 86.65. LINK made a very clear move again, rising to 7.70 resistance after falling to 7.30-7.34 support. Facing selling pressure from here, LINK continues its movement in the range of 7.30-7.70 without breaking its levels. At LINK, if 7.70 is broken upwards, we can say that our next target will be 8.05.